Why is Peter Schiff promoting the Gold Standard?Submitted by DreamDreamer on Fri, 06/01/2012 - 19:08
First off, I oppose the Gold Standard idea and I share Bill Still's understanding of the big risk and here is why. Gold standard is the answer for one world currency and for one world government. The US Constitution gives the responsibility to create money to Congress. Currently this responsibility is in the hands of bankers. There is no problem with paper money. President Lincoln's Congress printed the Greenbacks with which the Civil War was funded, and that worked pretty good (not the war, but the currency). Once Congress, or We The People, regains the power to control the amount of money, then Congress will become more receptive to the will of We The People.
Toward the end of The Money Masters, Bill Still says the following:
Beware of calls to return to the Gold Standard. Why? Simple. Because never before had so much gold been so concentrated outside of American hands and never before had so much gold been in the hands of international governmental bodies such as the World Bank and International Monetary Fund.
I have been examining Bill Still for a while now and the more I study, the more I trust his position on gold - Gold is a good investment, but not good as currency. And this is true from economic and from historical perspectives.
Does anyone know why Peter Schiff keeps pushing for the Gold Standard? I have noticed that Dr. Ron Paul no longer advocates the Gold Standard. Instead, he emphasizes on Congress's responsibility to print the money, not the FED. Plus sometime he mentions alternative currencies, which I do not agree with also, but that's material for another topic.
UPDATE: Thanks to all who spent the time to reply to the question! Some took the liberty to frivolously offend the virtual persona of DreamDreamer, but did not answer the question.
I never claimed to have figured it all out, it was unnecessary to call someone you don't know ignorant, troll, likened to someone who thinks Bible is nonsense, having no common sense, liar, socialist, a few that come to mind, simply based on a question asked.
If we truly believe that Freedom is popular and that Freedom brings people together, we should not beat people up for simply asking a question. How is this any different from any Communist regime?
I truly appreciate every answer to my question. Some answers contain invaluable information, for which I am thankful.